Minat penerbitan dana baru sepanjang tahun ini tidak berkurang. Tiga minggu berturut-turut, lebih dari 35 dana baru diluncurkan, dan FOF sering mengalami "habis terjual dalam satu hari".

Public offering funds continue to be actively issued.

From March 9 to March 15, 2026, a total of 37 public funds are awaiting issuance, marking the third consecutive week with more than 35 new funds issued, indicating a steady pace of public fund issuance.

In terms of categories, equity funds still account for a high proportion of issuance. Among the funds awaiting issuance, there are 23 equity funds, accounting for 62.16% of the total, including 18 stock funds and 5 mixed funds with a bias towards stocks.

“After the Spring Festival holiday, the domestic public fund issuance market remains active, with the enthusiasm for new fund launches steadily increasing. This is driven by multiple factors such as market conditions, capital, products, and institutional investors, reflecting the vitality of the capital market and investors’ positive outlook on the equity market,” said Li Chunyu, fund manager of Rongzhi Investment FOF under PAI PAIPAI Group. The migration of capital allocation has become an important force driving active public fund issuance.

This week, 37 funds awaiting issuance come from 25 public fund institutions. Among them, 16 companies have one product each waiting to be issued, while the remaining 9 companies have at least two. Specifically, E Fund has 4 products pending, including 3 passive index stock funds and 1 biased debt hybrid FOF; GF Fund has 3, including 2 biased debt hybrid FOFs and 1 biased stock hybrid fund. Additionally, Caitong Asset Management, East Money Fund, Huatai-PineBridge Fund, Invesco Great Wall Fund, Southern Fund, Tianhong Fund, and China Merchants Fund also each have 2 funds waiting to be issued this week.

Notably, the issuance of FOF products is steadily increasing, with 5 FOF funds awaiting issuance this week. Since the beginning of 2026, 52 new FOF funds have been launched, exceeding half of the total issued last year. Meanwhile, the average issuance share of these products has also increased, currently averaging 1.475 billion shares, compared to 950 million shares in 2025.

Li Chunyu emphasized that the reform of public fund fee rates was officially completed at the end of 2025. Based on this, public fund institutions have increased their layout of equity and index products. These products are characterized by their tool-like features, better meeting the asset allocation needs of investors with different risk preferences, and have become an important support for driving issuance enthusiasm.

At the same time, diversified products such as FOF are also showing a hot issuance trend. Since 2026, the average fundraising days for newly established FOFs have significantly decreased compared to 2025, with some products raising high amounts in just one day.

On March 11, China Europe Fund announced that the original fundraising deadline for the China Europe Yingxin Stable 6-Month Holding Period Hybrid Fund (FOF) was April 8, 2026, but it was now advanced to March 11, 2026. From March 12, 2026, investor subscription applications will no longer be accepted.

On March 10, E Fund announced that the E Fund Ruyi Yingze 6-Month Holding Period Hybrid (FOF) started fundraising on March 9, with the deadline moved forward from March 20 to March 9.

In fact, since March, other funds such as Pudong Silver Ansheng Yingtai Multi-Asset Allocation 3-Month Holding Period Hybrid FOF, Invesco Great Wall, and Xi’an Yu San-Month Holding Period Hybrid (FOF) have announced the end of fundraising after just one day, with issuance scales exceeding 1 billion yuan.

As of March 10, a total of 10 FOFs have been sold out in one day this year.

According to Wind data, as of March 10, 2026, 34 FOFs have been established this year, with a total fundraising scale of 48.03 billion yuan, surpassing 50% of last year’s total.

Among them, 16 FOFs have a scale of over 1 billion yuan. Bosera Yingtai Zhenxuan 6-Month Holding FOF raised 5.844 billion yuan in just one day. ICBC Yingtai Stable 6-Month Holding FOF and GF Zhihui Stable 3-Month Holding FOF each raised over 4 billion yuan, with 10 and 3 days respectively.

Some institutions pointed out that in the current high-quality development stage of the public fund industry, FOF funds are undoubtedly a bright spot this year. These products, with their advantages in asset allocation, multi-strategy combinations, and risk diversification, are attracting market attention and entering a new period of rapid growth.

CITIC Securities’ latest research report states that 2026 will see a strong start for new equity fund issuances, with insurance capital’s equity allocation ratio reaching a recent high, becoming an important long-term capital in the equity market. Since the implementation of the “Guidelines for Performance Benchmarks of Publicly Offered Securities Investment Funds” on March 1, a one-year transition period has been set for existing products, driving reforms across the entire industry chain including fund companies’ research and development, product layout, and risk control systems. The industry’s competitive focus is shifting from short-term performance to building logically clear, long-term viable product lines and investment capabilities, continuously optimizing the industry ecosystem.

Editor: Xu Nannan, Xu Nan

（Fund announcements, Wind data, CITIC Securities research）